What Is The Current and Historic Market Size Analysis Of The Plant-Based Food Packaging Market?
The plant-based food packaging market has seen considerable growth due to a variety of factors.
• The plant-based food packaging market has seen rapid growth in recent years. It is expected to increase from $6.39 billion in 2024 to $7.26 billion in 2025, with a compound annual growth rate (CAGR) of 13.7%.
Growth is attributed to rising environmental awareness, growing demand for sustainable products, consumer preference for eco-friendly packaging materials, and concerns about plastic waste.
What Are The Predictions for The Plant-Based Food Packaging Market in the Coming Years?
The plant-based food packaging market is expected to maintain its strong growth trajectory in upcoming years.
• The plant-based food packaging market is projected to grow to $12.01 billion by 2029, with a CAGR of 13.4%.
This growth is driven by consumer preference for sustainability, rising demand for recyclable and biodegradable products, and increasing concern over packaging waste. Major trends include the use of green packaging, paper and paperboard demand, smart packaging with freshness monitoring, sustainable practices, and biodegradable packaging adoption.
Which Drivers Are Accelerating Growth In The Plant-Based Food Packaging Market?
The surge in online shopping adoption is predicted to fuel the expansion of the plant-based food packaging market. Online shopping, the act of purchasing goods and services over the Internet, dispenses with the necessity for consumers to physically travel to stores. It provides a swift and simple method for browsing, comparing, and acquiring products, all from the convenience of one's home. As online shoppers increasingly prefer environmentally friendly choices, retailers are prompted to adopt plant-based packaging. This not only caters to customization and convenience but also facilitates brand differentiation. As an example, the United States Census Bureau, an American government agency, reported in May 2024 that the e-commerce estimate for the first quarter of 2024 observed an 8.5% increase from the same period in 2023. In contrast, the total retail sales only experienced a 2.8% growth in the same timeframe. Therefore, the escalating rise in online shopping adoption is a significant driving force behind the growth of the plant-based food packaging market.
What Are The Core Segments Of The Global Plant-Based Food Packaging Market?
The plant-based food packaging market covered in this report is segmented –
1) By Packaging Type: Paper Based, Biodegradable And Compostable Packaging, Recyclable Plastic Packaging
2) By Material: Bioplastics, Mycelium, Bagasse, Starch Based, Paper
3) By Packaging Formats: Flexible Packaging, Stand-Up Pouches, Flat Bottom Bags, Flow Wraps, Rigid Packaging, Trays, Containers, Bottles
Subsegments:
1) By Paper-Based: Kraft Paper Packaging, Coated Paperboard Packaging, Molded Pulp Packaging, Paper Bags And Pouches, Paper Cups And Containers
2) By Biodegradable And Compostable Packaging: PLA (Polylactic Acid) Packaging, PHA (Polyhydroxyalkanoates) Packaging, Starch-Based Packaging, Mushroom Packaging, Cellulose-Based Packaging, Bagasse Packaging (Sugarcane Pulp)
3) By Recyclable Plastic Packaging: PET (Polyethylene Terephthalate) Packaging, HDPE (High-Density Polyethylene) Packaging, PP (Polypropylene) Packaging, LDPE (Low-Density Polyethylene) Packaging, RPET (Recycled PET) Packaging
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How Are New Trends Impacting The Size Of The Plant-Based Food Packaging Market?
Prominent firms engaged in the realm of plant-based food packaging are making strides towards eco-friendly packaging alternatives, which could replace conventional plastic and simultaneously decrease waste and environmental harm. Sustainable packaging practices involve creating, producing, and disposing of packaging in a way that lessens its toll on the environment through the incorporation of environmentally-friendly, resource-efficient materials and methods that promote a circular economy. For example, in March 2024, mushroom-based packaging was launched by Donovan Bros Ltd., a UK-based company specializing in sustainable packaging solutions. This packaging, which is eco-friendly and biodegradable, combines agricultural waste with mycelium to create robust compostable packaging. It is a versatile packaging option, which can be edible or compostable, suitable for diverse food products, providing a unique 'unboxing' experience.
Who Are the Key Players In The Plant-Based Food Packaging Market?
Major companies operating in the plant-based food packaging market are:
• Amcor plc
• WestRock Company
• International Paper
• Tetra Pak International S.A.
• DuPont
• Stora Enso
• Sealed Air
• Huhtamaki
• Mondi Group
• Cascades Inc.
• Glatfelter Corporation
• Genpak
• Nordic Paper
• Danimer Scientific
• Good Natured Products Inc.
• Vegware
• Sulapac Oy
• Be Green Packaging
• BioPak
• TIPA LTD
• WorldCentric.com
• Sabert Corporation
• Ecologic
What Are The Regional Insights Into The Plant-Based Food Packaging Market?
Europe was the largest region in the plant-based food packaging market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the plant-based food packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
